Financing your Pool Renovation

Very few people are in a financial position to pay for a major swimming pool renovation project without borrowing money. Therefore, financing (or borrowing money) is a very common method of funding these types of projects. The two most popular types of loans that are available are:

  1. Home Improvement Loan
  2. Home Equity Loan Although each lending institution has different policies and procedures / rules that apply.

Following are some general guidelines for each type of loan.

  • Common to both types of loans
    • Available for long term- usually 3 years to 25 years (length of time based on dollar amount).
      Interest is tax –deductible in most cases – see your accountant for more information.
    • State law requires that a minimum of 15 days pass before loan is funded. (12 days to close loan plus 3 day right to cancel).
  • Home Improvement Loans
    • Loan can be for up to 100% of the appraised value of the home.
    • Improvements being made can be added into value of home.
    • Loan can be rolled into a permanent mortgage in case of refinancing.
  • Home Equity Loans
    • Loan can be made for up to 80% of the appraised value of the home.
    • Improvements being made cannot be added into the value of the home.
    • Loan cannot be rolled into a permanent mortgage in case of refinancing.
    • Can apply for 1 home equity loans in a 12 month period.
    • Has a lower interest rate than a home improvement loan in some cases.

As you can see, each loan has its advantages. It is important to discuss with your loan officer which loan would work best in your situation. Ask your pool designer for a list of lending institutions that we have worked with.

Pool Renovations
Pool Renovations
Pool Renovations

Ask The Pool Guy.....

200 YEARS of pool care experience at Gohlke Pools means we have seen it all. If you have questions about pool care, pool construction, renovation or repair, click here to ASK THE POOL GUY!

Gohlke Pools Videos


Down home genuine feel.  Always feel like your staff is being honest and courteous with us.  I like the face that your service technicians are nice to my dogs and are able to do their service and I don’t have to lock the dogs up in the house for the day.  It may not sound like much but this is a really big deal to us. - Christine W.

Answered questions and gave honest advice.  Also, Saturday service since that is the only day I can be there. - Dennis W.

The fellow who came to the house and showed me how to work the filters, pumps, etc. and let me do it hands on so I knew what to do myself.  Very informative, friendly, and “pool knowledge” are not silly questions.  They understand not everyone knows about pools.  Very knowledgeable staff.  I felt every employee, either in the store or those that came out to the house knew exactly what they were talking about. - JoAnn O.

Timely response, honest answers, and friendly service.  A.W. was a great guy to work with . - Patricia B .

Matt Watson is friendly, caring , and prompt. - Gary & Carol P.

Genuine concern about my pool’s problem.  Taking initiative to solve the problem and having authority to do so.  Seems like a family unit more than a company only our for a profit. - Mary F.